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Coronavirus (COVID-19) News & AnnouncementsWednesday, April 15, 2020
Treasury, IRS Unveil Online Application to Help with Economic Impact Payments; Get My Payment Allows People to Provide Direct Deposit Information and Gives Payment Date
Working with the Treasury Department, the Internal Revenue Service today unveiled the new Get My Payment with features to let taxpayers check on their Economic Impact Payment date and update direct deposit information.
Internal Revenue Service
Wednesday, April 1, 2020Relief from Penalty for Failure to Deposit Employment Taxes
Notice 2020-22 provides a waiver of additions to tax for failure to make a deposit of taxes for employers required to pay qualified sick leave wages and qualified family leave wages mandated by the Families First Coronavirus Response Act (Families First Act) and qualified health plan expenses allocable to these wages.
Internal Revenue Service
Wednesday, April 1, 2020IRS: Employee Retention Credit available for many businesses financially impacted by COVID-19
The Treasury Department and the Internal Revenue Service today launched the Employee Retention Credit, designed to encourage businesses to keep employees on their payroll. The refundable tax credit is 50% of up to $10,000 in wages paid by an eligible employer whose business has been financially impacted by COVID-19.
U.S. Treasury Department and Internal Revenue Service
Tuesday, March 31, 2020Economic Impact Payments: What You Need to Know
The Treasury Department and the Internal Revenue Service today announced that distribution of economic impact payments will begin in the next three weeks and will be distributed automatically, with no action required for most people.
Internal Revenue Service
Wednesday, March 25, 2020IRS Unveils New People First Initiative; COVID-19 Effort Temporarily Adjusts, Suspends Key Compliance Program
To help people facing the challenges of COVID-19 issues, the Internal Revenue Service announced today a sweeping series of steps to assist taxpayers by providing relief on a variety of issues ranging from easing payment guidelines to postponing compliance actions.
Internal Revenue Service
Saturday, March 21, 2020FFCRA Payroll Tax Credit — Easing the Burden for Employers
On Friday, March 20, the U.S. Treasury, IRS, and U.S. Department of Labor announced their plans for making the paid leave provisions in the Families First Coronavirus Response Act (FFCRA) less burdensome for small businesses.
ThinkHR Corporation
Friday, March 20, 2020Treasury, IRS and Labor Announce Plan to Implement Coronavirus-Related Paid Leave for Workers and Tax Credits for Small and Midsize Businesses
The U.S. Treasury Department, Internal Revenue Service (IRS), and the U.S. Department of Labor (Labor) announced that small and midsize employers can begin taking advantage of two new refundable payroll tax credits, designed to immediately and fully reimburse them, dollar-for-dollar, for the cost of providing Coronavirus-related leave to their employees. This relief to employees and small and midsize businesses is provided under the Families First Coronavirus Response Act (Act), signed by President Trump on
IRS
Thursday, March 19, 2020N-2020-17: Relief for Taxpayers Affected by Ongoing Coronavirus Disease 2019 Pandemic
The Treasury Department and IRS are extending the due date for Federal income tax payments due April 15, 2020, to July 15, 2020, for payments due of up to $10 million for corporations and up to $1 million for individuals - regardless of filing status – and other unincorporated entities. Associated interest, additions to tax, and penalties for late payment will also be suspended until July 15, 2020.
IRS
